Ipso Facto Event definition
Ipso Facto Event means the Borrower is the subject of:
Ipso Facto Event means an Australian Note Party that is the subject of an announcement, application, compromise, arrangement, managing controller, or administration as described in section 415D(1), 434J(1) or 451E(1) of the Australian Corporations Act.
Ipso Facto Event means an Australian Guarantor is the subject of:
Examples of Ipso Facto Event in a sentence
In addition, if an Ipso Facto Event is continuing, each Note Guarantor, absolutely, unconditionally and irrevocably, promises to pay the Notes Obligations to the Trustee for the benefit of the Secured Parties, on demand.
The Guarantors jointly and severally undertake that if an Ipso Facto Event is continuing, then immediately on demand by the Purchasers each Guarantor shall pay and perform all Obligations, accrued interest and other amounts referred to in the Transaction Documents as if it was the principal obligor.
More Definitions of Ipso Facto Event
Ipso Facto Event means the Customer is the subject of an announcement, application, compromise, arrangement, managing controller, or administration as described in section 415D(1), 434 J(1) or 451 (E)(1) of the Corporations Act 2001 (Cth) or any process which under any law with a similar purpose may give rise to a stay on, or prevention of, the exercise of contractual rights;
Ipso Facto Event means an Obligor is the subject of:
(a) an announcement, application, compromise, arrangement, managing controller, or administration as described in section 415D(1), 434J(1) or 451E(1) of the Corporations Act; or
(a) any process which under any law with a similar purpose may give rise to a stay on, or prevention of, the exercise of contractual rights.
Ipso Facto Event means that a Borrower incorporated in Australia is the subject of (a) an announcement, application, compromise, arrangement, managing controller, or administration as described in section 415D(1), 434J(1) or 451E(1) of the Corporations Act or (b) any process which under any law with a similar purpose may give rise to a stay on, or prevention of, the exercise of contractual rights, provided that such event or circumstance is an Event of Default.
Ipso Facto Event means an Obligor is the subject of:
Ipso Facto Event has the meaning given to it in clause 17.1 (Guarantee); Loan Note Subscription Agreement | DLA Piper | 17
Ipso Facto Event has the meaning given to it in Clause 20.1 (Guarantee).
Ipso Facto Event means:
(1) proceedings have commenced by or in relation to the Purchaser or the Purchaser is insolvent; or
(2) the Purchaser is the subject of any process which under any law with a similar purpose may give rise to a stay on, or prevention of, the exercise of contractual rights.